Markets Gap Higher for End of week.
Erica Villalon Trade Desk
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S&P 500 is Flat...
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Erica Villalon Trading Desk The S&P 500 was little changed on Tuesday following a three-day rally as a drop in Apple shares (NASDAQ: AAPL ) overshadowed optimism from remarks made by U.S. and China officials in pledging firm commitment to a Phase One trade deal. The benchmark S&P 500 opened at a record high as the news eased some concerns the deal could be on shaky ground. Investors also anticipate the centerpiece event of the week - an annual conference of U.S. central bankers where Federal Reserve Chairman Jerome Powell is scheduled to speak. The S&P 500 and Nasdaq logged new closing highs on Monday, boosted by signs of progress in developing treatments and vaccines for COVID-19. The benchmark index surpassed its pre-pandemic high last week even as recent economic indicators signaled a bumpy recovery from the virus-led downturn. A survey from the Conference Board showed U.S. consumer confidence unexpectedly fell in August to a six-year low. https://www.plurk.com/eri...
US China Tensions with Tik Tok...
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https://dz.wordpress.com/tag/erica-villalon/ Wall Street was set to pull back on Tuesday as President Donald Trump's moves to force China-owned TikTok into a sale of its U.S. operations drew a sharp rebuke from Beijing, ratcheting up tensions as the world slides into a pandemic-fueled recession. Friction between the world's top two economies took a back seat in the first half of 2020 as the COVID-19 pandemic crushed global growth, and an escalation now would hamper the recovery of some exporters and importers and fan fears of a deeper economic slump. With Microsoft Corp (O: MSFT ) looking to buy short-video app TikTok's U.S. operations, Trump said on Monday the U.S. government should get a "substantial portion" of any deal price. On Tuesday, state-backed newspaper China Daily said the country will not accept the "theft" of the technology company. Microsoft's shares were down 1.6% in premarket trading after surging more than 5% on Monday as the comp...